Hello Humble Bitcoiners!
Let's take in some of the daily signal in the Bitcoin world. |
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| 📝 Today's Rundown Talking Privacy: What is KYC bitcoin and what steps can users concerned with privacy take to address the issues presented by KYC bitcoin? Millennial's for Bitcoin: Younger Indian generations are buying into bitcoin because stocks and other assets are “boring.” HODL Model: The HODL model hypothesizes that bitcoin has crossed an inflection point, with the asset's illiquid supply outpacing the rate of new supply issuance. |
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| Bitcoin’s blockchain is public and every transaction ever made can be audited and verified by anyone. However, that feature can also be used to associate addresses to peoples names and trace their monetary activity.
By giving your personal information to an exchange through KYC (acronym for “know your customer”), they can associate your address with you. This is KYC bitcoin: UTXOs in wallets that can be linked to a person.
Many Bitcoiners believe that KYC goes against Bitcoin’s true ideology. Ultimately, privacy is essential to ensure freedom and prevent authoritarianism. For example, Russian citizens could become targets for retaliation if they donate to Ukraine with KYC'd bitcoin.
In this article, the author explores this topic in more detail and suggests alternatives to enhance our privacy while using Bitcoin.
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| 📰 MILLENIAL'S FOR BITCOIN |
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India Sees Massive Bitcoin Transaction Increase Fueled By New Generation
By Shawn Amick In an interview with CNN Business, Swati Daga, founder of food company The Good Phat, discussed the changing investment landscape of India as younger generations turn to bitcoin and other cryptocurrencies.
Young people are finding themselves attracted to bitcoin as a more compelling investment compared to "the boring stock market." The following statistics were shared during the interview: 20 million of the 750 million internet users currently hold some form of cryptocurrency in India India saw 706% increase in cryptocurrency transactions, making up 14% of global transactions. As many turn to bitcoin for investment and store of value, the potential grows as technologies like the Lightning Network continue to be successfully integrated, allowing users to leap from a store of value and speculation, to a medium of exchange. |
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1. Steve Wozniak discussed the mathematical purity of Bitcoin as “pure-gold” mathematics, separating it from other cryptocurrencies.
2. A bill passed in the Virginian Senate allows banks to offer custodial services for bitcoin in either a fiduciary or non-fiduciary capacity once signed into law.
3. Joe Biden is set to sign a crypto related executive order this week.
4. Sanctions are pure motivation for countries to seek out monetary alternatives that cannot be harnessed by a single nation against them.
5. As legacy financial rails have broken down amid Russia’s invasion of Ukraine, Bitcoin is proving to be a critical lifeline for the Ukrainian people.
6. Look for the physical form of #DoMI at the Bitcoin Conference happening April sixth through the ninth in Miami Beach! |
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The HODL Model: Bitcoin Illiquid Supply Is Outpacing Issuance
By The Rational Root This article explains everything you need to know about “The HODL Model hypothesis" a premise assuming that bitcoin has already experienced a significant inflection point where its illiquid supply outpaces the rate of new supply issuance.
Bitcoin’s supply issuance is currently 6.25 BTC every time a block is added to the chain (approximately every 10 minutes) and it halves after each set of 210,000 blocks is mined. Illiquid supply is defined as entities that hold and never sell over 75% of the bitcoin they take in.
Since bitcoin’s inception, the percentage of illiquid supply inside the total circulating supply, on average, decreased. However, that changed in July 2019, when bitcoin’s illiquid supply share of the circulating supply started growing from its bottom of 71.47%. This implies that the amount of bitcoin mined each day is not enough to satisfy the demand of the increasing ratio of people willing to hold bitcoin as a store of value. |
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| In this episode of Bitcoin Magazine LIVE: An interview with Gary Leland An episode of Fedwatch An episode of The Break Up with Nolan Bauerle Don't forget to LIKE & SUBSCRIBE. |
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By Btc Padre
Separating money from the State is perhaps not one of bitcoin's properties, but a natural effect of it due to its hard money aspects. By having money decentralized in governance and finite in supply, there is no power to who dictate its issuance. In other words, it removes power of seigniorage from the State.
With love,
Bam |
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